Internal Controls

Companies gain a better understanding for the way they’re operating when their finance function is properly documented. A study of a company’s internal control system is a service most executives should consider adding to their yearly finance function.

We document a company’s finance function and find out where the holes are. Is your company in a transition mode? Are you gaining a new CFO or controller? Are you considering buying another company? Is what you have right now sufficient enough to handle company growth? Is fraud suspected? Gumbiner Savett will work with you to determine the scope of your internal control needs.

As accounting professionals Gumbiner Savett has the skill set necessary to find financial inconsistencies that can help companies add to their bottom line through improved efficiency, both day-to-day and long term.

How often do you have your internal controls checked? Any organization has its weaknesses and we have the know-how to spot the ones you may not have thought about checking on. Our accounting methodology allows us to look at the checks and balances in your organization and identify inconsistencies such as: one person having too much control over a key function, a function residing in the wrong department or a function not being efficiently executed.

Our professionals have the experience to:

  • Perform a study of internal controls
  • Document internal controls
  • Evaluate the design of internal controls
  • Recommend solutions for design deficiencies
  • Assist in the implementation of recommended solutions
  • Test the effectiveness of internal controls
  • Identify opportunities for improving operating efficiencies

Privately held companies may consider compliance with Section 404 of the Sarbanes-Oxley act, even though it is not required. The following are some circumstances when this may occur:

  • The company intends to become public in the future
  • The company has been identified for acquisition by a public company
  • The company is held for sale in the public company environment